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Economy of Burkina Faso vs Malawi compared: GDP & Debt

Updated on by Georank team

Burkina Faso has a GDP of $23.1B compared to $11.3B for Malawi, ranking 122/197 and 151/197 by economy size, respectively.

Burkina Faso has $13.2B in government debt (57.2% of GDP), compared to $9.91B (87.6% of GDP) in Malawi.

Burkina Faso vs Malawi GDP by year

Burkina Faso
Malawi
1x
Year GDP, current $
Burkina Faso Malawi
2024 $23,124,729,853 $11,316,411,329
2023 $20,112,614,449 $13,363,669,673
2022 $18,622,421,395 $12,429,059,928
2021 $19,697,516,284 $12,378,119,199
2020 $17,725,010,533 $11,769,313,598
2019 $16,032,813,503 $11,051,852,713
2018 $15,890,066,221 $9,879,220,354
2017 $14,106,955,615 $8,943,543,794
2016 $12,833,363,045 $7,909,868,618
2015 $11,832,159,316 $9,219,474,379
2014 $13,943,016,077 $8,801,326,169
2013 $13,444,300,486 $8,031,571,928
2012 $12,561,015,157 $8,773,203,178
2011 $12,080,295,978 $11,648,142,958
2010 $10,109,619,741 $10,128,323,011
2009 $9,450,696,873 $9,009,887,947
2008 $9,451,435,490 $7,743,617,352
2007 $7,625,722,837 $6,451,210,219
2006 $6,547,419,820 $5,818,279,739
2005 $6,146,353,173 $5,320,409,651
2004 $5,451,688,538 $5,058,726,350
2003 $4,740,768,143 $4,669,789,300
2002 $3,622,350,063 $5,087,328,438
2001 $3,190,371,081 $2,498,008,665
2000 $2,968,370,088 $2,537,307,580
1999 $3,389,566,713 $2,584,478,924
1998 $2,804,902,367 $2,547,609,590
1997 $2,447,669,102 $3,875,785,863
1996 $2,586,550,595 $3,319,573,750
1995 $2,379,517,975 $2,033,701,498
1994 $1,895,290,637 $1,719,864,761
1993 $3,199,536,465 $3,013,392,658
1992 $3,356,692,505 $2,618,837,835
1991 $3,135,045,584 $3,206,783,830
1990 $3,101,300,779 $2,737,087,862
1989 $2,615,587,734 $2,314,205,130
1988 $2,616,040,479 $2,008,189,508
1987 $2,369,834,950 $1,721,711,808
1986 $2,036,303,358 $1,722,586,299
1985 $1,552,493,196 $1,646,442,273
1984 $1,459,880,132 $1,758,028,656
1983 $1,600,278,605 $1,780,148,049
1982 $1,754,450,096 $1,717,379,495
1981 $1,775,842,334 $1,801,193,910
1980 $1,928,719,888 $1,801,156,775
1979 $1,748,480,621 -
1978 $1,475,583,645 -
1977 $1,131,224,878 -
1976 $976,547,188 -
1975 $939,972,703 -
1974 $751,133,430 -
1973 $674,773,570 -
1972 $578,595,522 -
1971 $482,411,179 -
1970 $458,404,269 -
1969 $478,298,645 -
1968 $460,442,689 -
1967 $450,753,924 -
1966 $433,889,766 -
1965 $422,916,790 -
1964 $410,321,645 -
1963 $394,040,667 -
1962 $379,567,099 -
1961 $350,247,234 -
1960 $330,442,816 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/burkina-faso/malawi | CC BY

GDP per capita in Burkina Faso vs Malawi by year

Burkina Faso
GDP per capita

GDP per capita, PPP
Malawi
GDP per capita

GDP per capita, PPP
1x
Year Current $
Burkina Faso Malawi
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $982 $2,896 $523 $1,858
2023 $873 $2,759 $633 $1,830
2022 $827 $2,645 $604 $1,778
2021 $896 $2,486 $617 $1,688
2020 $825 $2,381 $603 $1,513
2019 $765 $2,232 $581 $1,450
2018 $777 $2,073 $533 $1,364
2017 $709 $2,042 $496 $1,380
2016 $664 $1,882 $451 $1,410
2015 $630 $1,692 $540 $1,403
2014 $765 $1,661 $530 $1,506
2013 $760 $1,643 $497 $1,558
2012 $731 $1,572 $558 $1,464
2011 $725 $1,531 $763 $1,516
2010 $625 $1,449 $683 $1,458
2009 $602 $1,360 $626 $1,388
2008 $619 $1,351 $554 $1,311
2007 $515 $1,290 $475 $1,231
2006 $456 $1,244 $441 $1,124
2005 $441 $1,172 $414 $1,071
2004 $404 $1,079 $405 $1,033
2003 $362 $1,038 $383 $979
2002 $285.7 $974 $428 $931
2001 $259.5 $948 $215.5 $924
2000 $248.9 $896 $224.2 $974
1999 $292.8 $886 $233.9 $961
1998 $249.5 $838 $236 $941
1997 $223.9 $794 $367 $915
1996 $242.7 $753 $321 $884
1995 $229.1 $684 $200.4 $825
1994 $187.2 $650 $169.2 $692
1993 $324 $644 $293 $746
1992 $349 $623 $258.4 $674
1991 $334 $623 $326 $732
1990 $339 $567 $286.7 $672
1989 $293.2 - $252.2 -
1988 $301 - $229.4 -
1987 $280.2 - $207.6 -
1986 $247.5 - $217.9 -
1985 $194.1 - $216.1 -
1984 $187.8 - $239.7 -
1983 $211.9 - $252.4 -
1982 $239 - $253.3 -
1981 $248.7 - $276.4 -
1980 $277.6 - $287.5 -
1979 $258.5 - - -
1978 $223.9 - - -
1977 $176 - - -
1976 $155.5 - - -
1975 $152.9 - - -
1974 $124.7 - - -
1973 $114.1 - - -
1972 $99.6 - - -
1971 $84.5 - - -
1970 $81.7 - - -
1969 $86.8 - - -
1968 $85 - - -
1967 $84.6 - - -
1966 $82.8 - - -
1965 $82.1 - - -
1964 $80.9 - - -
1963 $78.9 - - -
1962 $77.2 - - -
1961 $72.2 - - -
1960 $69.2 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/burkina-faso/malawi | CC BY

Burkina Faso's GDP per capita is $982, ranking 180/197, compared to $523 in Malawi, ranking 194/197. Adjusted for purchasing power (GDP per capita PPP), Burkina Faso ranks 181st at $2,896, while Malawi ranks 189th at $1,858.

Economic indicators

Burkina Faso Malawi
Gross domestic product
$23.1B
2024
$11.3B
2024
GDP rank
122/197
2024
151/197
2024
GDP growth
4.8%
2023-2024
1.67%
2023-2024
GDP per capita
$982
2024
$523
2024
GDP per capita rank
180/197
2024
194/197
2024
GDP per capita, PPP
$2,896
2024
$1,858
2024
GDP per capita PPP rank
181/197
2024
189/197
2024
Government debt
$13.2B
2024
$9.91B
2024
Debt-to-GDP ratio
57.2%
2024
87.6%
2024
Government debt per person
$562
2024
$458
2024
Government debt per person rank
162/185
2024
168/185
2024
Average annual personal income after taxes
$2,710
2026
$3,031
2026
Income share by richest 10%
30.2%
2021
31%
2019
Income share by poorest 10%
3%
2021
2.9%
2019
Government expenditure, % of GDP
27.8%
2024
29.5%
2024
Consumer prices inflation
4.19%
2023-2024
32.2%
2023-2024
Central bank interest rate n/a
26%
2024
Unemployment rate
3.44%
2024
15.4%
2024
Population
24756783
22949294

Spending and national debt comparison by year

Burkina Faso
Spending

Debt
Malawi
Spending

Debt
1x
Year % of GDP
Burkina Faso Malawi
Government spending Government debt Government spending Government debt
2024 27.8% 57.2% 29.5% 87.6%
2023 29.4% 56.8% 25.5% 86.7%
2022 32.9% 59.2% 26.7% 75.7%
2021 27.8% 55.5% 23.7% 66.5%
2020 24.4% 43.6% 22.7% 53.9%
2019 23.3% 41.7% 19.3% 41.2%
2018 24.2% 38.1% 19.4% 40.8%
2017 26.3% 33.9% 21% 40%
2016 21.6% 32.9% 19.7% 37.1%
2015 20.4% 31.3% 19.5% 35.5%
2014 20.9% 26.1% 18.3% 33.5%
2013 25.3% 25.9% 20.7% 35.3%
2012 22.7% 25.2% 18.8% 28.6%
2011 20.4% 24.5% 17% 20%
2010 21.7% 23.7% 19.6% 19.3%
2009 21.5% 25.9% 20.2% 23.5%
2008 18.6% 24.9% 20.6% 23.5%
2007 22.8% 22.4% 20.7% 18.9%
2006 21.9% 20.1% 17.8% 17.9%
2005 20.2% 39.2% 17.4% 70.9%
2004 20.3% 40.7% 17.2% 74.7%
2003 17.6% 39.7% 15.4% 84.7%
2002 19.5% 43.3% 13.8% 101.5%
2001 19.7% 46.6% - -
2000 19.8% 47.5% - -
1999 21.4% 46.4% - -
1998 19.7% 47.7% - -
1997 20% 48.4% - -
1996 19.8% 45.8% - -
1995 19.4% 48.9% - -
1994 17.8% 55.1% - -
1993 17.9% 33.6% - -
1992 16.7% 29.6% - -
1991 17% 28.7% - -
1990 18.4% 25.6% - -
1989 14.2% 25.5% - -
1988 16.2% 28.8% - -
1987 19.2% 30.7% - -
1986 16.3% 27.6% - -
1985 11.5% 28.5% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–2001, retrieved 2026-02-20).

GeoRank.org/economy/burkina-faso/malawi | CC BY

In 2024, Burkina Faso's government spending was $6.43B, accounting for 27.8% of its GDP, while Malawi spent $3.34B, or 29.5% of GDP.

Debt-to-GDP ratio is 57.2% in Burkina Faso and 87.6% in Malawi, ranking 89/185 and 35/185, respectively.

Government deficit by year

Deficit/surplus
Burkina Faso

Malawi
1x
Year Deficit/surplus, % of GDP
Burkina Faso Malawi
2024 -5.84% -11%
2023 -6.91% -7.84%
2022 -10.9% -9.32%
2021 -7.45% -8.34%
2020 -5.16% -8.03%
2019 -3.39% -4.55%
2018 -4.43% -4.35%
2017 -6.92% -5.15%
2016 -3.08% -4.9%
2015 -2.09% -4.17%
2014 -1.74% -3.08%
2013 -3.55% -3.73%
2012 -2.76% -1.45%
2011 -2.04% -2.85%
2010 -4.06% 0.63%
2009 -4.16% -2.97%
2008 -3.63% -2.92%
2007 -5.01% -2.56%
2006 14.3% -0.05%
2005 -4.89% -1.63%
2004 -4.19% -2.61%
2003 -1.79% -2.6%
2002 -4.43% -4.47%
2001 -3.56% -
2000 -3.03% -
1999 -3.29% -
1998 -2.6% -
1997 -2.64% -
1996 -1.67% -
1995 -2.65% -
1994 -1.89% -
1993 -3.81% -
1992 -2.51% -
1991 -2.77% -
1990 -7.54% -
1989 1.96% -
1988 -4.32% -
1987 -5.27% -
1986 -5.1% -
1985 -1.21% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1985–1989, retrieved 2026-02-20).

GeoRank.org/economy/burkina-faso/malawi | CC BY

In 2024, Burkina Faso's government deficit, the difference between spending and revenue, was $1.35B, equivalent to 5.84% of GDP. This compares to Malawi's deficit of $1.24B, or 11% of GDP.

Over the past 23 years, Burkina Faso recorded a fiscal deficit in 22 of those years, while Malawi ran a deficit in 22 years. On average, Burkina Faso posted an annual deficit equal to 3.66% of GDP, compared to deficit of 4.26% of GDP for Malawi.

Inflation comparison by year

Inflation
Burkina Faso

Malawi
1x
Year Consumer prices inflation
Burkina Faso Malawi
2024 4.19% 32.2%
2023 0.74% 28.8%
2022 14.3% 20.8%
2021 3.65% 9.3%
2020 1.88% 8.6%
2019 -3.23% 9.4%
2018 1.96% 9.2%
2017 1.48% 11.5%
2016 0.44% 21.7%
2015 0.72% 21.9%
2014 -0.26% 23.8%
2013 0.53% 28.3%
2012 3.82% 21.3%
2011 2.76% 7.6%
2010 -0.76% 7.4%
2009 2.61% 8.4%
2008 10.7% 8.7%
2007 -0.23% 7.9%
2006 2.33% 13.9%
2005 6.42% 15.5%
2004 -0.4% 11.4%
2003 2.03% 9.6%
2002 2.18% 14.7%
2001 5.01% 22.7%
2000 -0.3% 29.6%
1999 -1.07% 44.8%
1998 5.08% 29.8%
1997 2.32% 9.1%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/burkina-faso/malawi | CC BY

Over the past 28 years, Burkina Faso has recorded an average annual inflation rate of 2.46%, compared with 17.4% in Malawi. In 2024, inflation was 4.19% in Burkina Faso and 32.2% in Malawi.

Top exports between countries

Burkina Faso
Export category Export value
Malawi
Export category Export value
Textiles & consumer goods $6K
Machinery & equipment $2K
Wood & paper products $2K
Metals $1K

Balance of trade

Burkina Faso Malawi
Current account balance
-$1.02B
2023
-$2.13B
2024
Current account balance ranking
122/190
2023
145/190
2024
Current account balance, % of GDP
-5.06%
2023
-18.8%
2024
Goods imports
$5.38B
2023
$3.02B
2024
Goods exports
$5.29B
2023
$1.02B
2024
Service imports
$1.45B
2023
$895M
2024
Service exports
$621M
2023
$508M
2024
Imports of goods and services, % of GDP
31.9%
2024
31.2%
2023
Exports of goods and services, % of GDP
28.6%
2024
11.2%
2023

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Burkina Faso Malawi
Economic freedom 49.1 50.7
Economic freedom ranking 167/197 159/197
Property rights 17.6 49.5
Government integrity 40.2 35
Judicial effectiveness 26.1 51.8
Tax burden 80.8 77
Government spending 72.9 77.8
Fiscal health 13.4 4.7
Business freedom 37.8 34.1
Labor freedom 62.1 55.2
Monetary freedom 71.9 55.1
Trade freedom 61 68.6
Investment freedom 65 50
Financial freedom 40 50

Economic freedom comparison by year

Burkina Faso
Malawi
1x
Year Economic freedom index
Burkina Faso Malawi
2026 49.1 50.7
2025 51 50.9
2024 51.9 52.1
2023 56.2 52.8
2022 58.3 53
2021 56.5 53
2020 56.7 52.8
2019 59.4 51.4
2018 60 52
2017 59.6 52.2
2016 59.1 51.8
2015 58.6 54.8
2014 58.9 55.4
2013 59.9 55.3
2012 60.6 56.4
2011 60.6 55.8
2010 59.4 54.1
2009 59.5 53.7
2008 55.7 52.7
2007 55.1 52.9
2006 55.8 55.4
2005 56.6 53.6
2004 58 53.6
2003 58.9 53.2
2002 58.8 56.9
2001 56.7 56.2
2000 55.7 57.4
1999 55 54
1998 54.5 54.1
1997 54 53.4
1996 49.4 56.2
1995 - 54.7

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/burkina-faso/malawi | CC BY

The Economic Freedom Index for Burkina Faso is 49.1, ranking 167/197, compared to 50.7 for Malawi, ranking 159/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Burkina Faso Malawi
Services, % of GDP
43.9%
2024
44.2%
2024
Industry, % of GDP
26.5%
2024
17.1%
2024
Agriculture, forestry, and fishing, % of GDP
20.9%
2024
31.8%
2024
GNI, Atlas method
$20.1B
2024
$12.3B
2024
GNI per capita, PPP
$2,720
2024
$1,830
2024
Total reserves including gold n/a
$594M
2020
Total reserves ranking n/a
154/177
2020
Net foreign direct investment
-$64.3M
2023
-$202M
2024
Net inflows of foreign direct investment
$82.9M
2024
$681M
2024
Net outflows of foreign direct investment
$2.73M
2024
$56.4M
2024
Servicing debt to the IMF, % of GNI
4.07%
2024
1.47%
2024
Poverty at national poverty lines
43.2%
2021
50.7%
2019
Gross capital formation, % of GDP
21.9%
2024
14.5%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/burkina-faso/malawi | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1985–2001, retrieved 2026-02-20)
  6. TradeMap (2021, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.